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Updated about 6 years ago on .
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Taxes on rental income
As a regular w2 employee, a general rule of thumb is you will be paying 1/3 of your income into taxes. If you are full time landlord and live only off rental income profits what is a general rule of thumb on taxes you pay? Is it near that 1/3 or is it less? I know there are several deductions landlords can make, just looking for a general rule of thumb here.